- US stock markets opened modestly higher
- US 10Y Treasury yield hit new 5 month low
- IBM (IBM.US) stock climbs on upbeat quarterly earnings
US indices launched today's session higher, attempting to erase yesterday's heavy losses, as investors try to focus on the second-quarter earnings season. Meanwhile 10-year Treasury yield fell 3.4 basis points to 1.139%. On the earnings front, quarterly results from Netflix Inc, United Airlines and Chipotle are expected after market close. On the data front, building permits fell 5.1 % from a month earlier to a seasonally adjusted annual rate of 1.598 million in June, below analysts' estimates of 1.7 million. Meanwhile US housing starts surged 6.3% mom to a seasonally adjusted annual rate of 1.643 million in June, the highest in 3 months and above market expectations of 1.59 million, amid strong demand from buyers, elevated materials costs and shortage of qualified workers.
US500 launched today’s session higher and attempts to recover yesterday's losses. Index bounced off the major support at 4225 pts and is currently testing local resistance at 4267 pts which is strengthened by 200 SMA (red line). If buyers will manage to uphold current momentum, then upward move may be extended to the resistance at 4295 pts. On the other hand, if sellers manage to regain control, then another downward impulse may be launched. Source: xStation5
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Create account Try a demo Download mobile app Download mobile appIBM (IBM.US) stock rose more than 3% in premarket after the computer hardware company posted upbeat quarterly figures. Company earned $2.33 per share slightly above analysts’ estimates of $2.29 per share. Revenue also topped market expectations and reached its highest level in 3 years, helped by IBM’s cloud and software businesses.
IBM (IBM.US) stock launched today’s session higher following the release of upbeat quarterly figures. Price is currently approaching local resistance at $143.55 which coincides with a downward trendline and 50 SMA (green line). Should a break higher occur, upward move may accelerate towards resistance at $152.95. On the other hand, the medium-term 50-day SMA (green line) crossed under the long-term 200-day SMA (red line). This has formed a bearish ‘death cross’ which can at times precede a turn lower. The nearest support lies at $136.65. Source: xStation5
Travelers (TRV.US) shares fell 0.50% despite the fact that the insurance company posted strong quarterly figures. Company earned $3.45 per share well above analysts’ expectations of $2.39. Revenue beat Wall Street projections as well due to higher premiums, improved investment returns and lower catastrophe losses.
Nasdaq (NDAQ.US) shares gained 1% in the premarket after the exchange operator announced plans to transform its Nasdaq Private Market, a platform for private stocks, into a separate company. It will do so in collaboration with a group of banks including Citigroup, Morgan Stanley and Goldman Sachs.
